The Internal Revenue Service has issued proposed regulations on the shared responsibility for large employers to provide health care coverage under the Affordable Care Act.
The IRS noted that employers may rely on the proposed regulations for guidance until final regulations are issued. In addition, the IRS posted a questions and answers document on its Web site Friday to explain the Employer Shared Responsibility provisions under the Affordable Care Act and the new proposed regulations.
Under the provisions, if employers do not offer affordable health coverage that provides a minimum level of health insurance coverage to their full-time employees, they may be subject to an Employer Shared Responsibility payment if at least one of their full-time employees receives a premium tax credit for purchasing individual coverage on one of the new Affordable Insurance Exchanges.
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